Defiance, OH

It has been exciting as of late as I've started seeing a lot more activity in the Defiance Area market. I attribute the activity mostly to the good weather we've had lately and the inventory of homes that are available in this market.

I wrote a post a few posts back that tell of how the market is doing here and am encouraged by where the market is heading.

Foreclosures are still an issue here in Defiance, but they are creating some great buying opportunities for those who are prepared to buy.

If you've been considering selling your home, then this is really the time to get it on the market as people are looking and making offers. An agent in my office just sold the same house 3 times this week! The first two contracts fell apart, but the third one should get it done.

I guess that's it for now. Catch up with ya again soon.

Scott

Scott Williams
www.DefianceAreaHomes.com

Scott@butlermohr.com

March Housing Statistics

If you've thought of buying or selling a home in the Defiance area, you have probably wondered what the housing market was doing here in comparison to the national market statistics. So, each month I will be bringing you the Defiance area's housing statistics to keep you abreast of what is going on, where the market has been and where it's heading. Hopefully, by doing so, you will be better informed when you step into the home buying or selling process and have a better idea of what to expect.

As for March, it was a steady month for the Defiance housing market as its residents were starting to stretch their legs out a little. Warmer weather, promise of summer coming and steady house prices are beginning to attract buyers. With the snow finally gone, buyers are now able to get a better view of what each property has to offer without having to guess what was under the it. This is good news for seller's as it means showings should increase on their properties and hopefully, so will the offers.

As of March 31^st, there were 210 single-family properties for sale in Defiance of which 39 of those were new listings. There were 11 properties that were contingent upon some factor such as inspections, financing or sale of their home. 8 homes were pending and heading toward closing while 17 properties sold at an average sales price of $106,533 and were on the market an average of 101 days. The average days on the market showed the greatest improvement as it dropped from February's average of 117 days on the market. This average should continue to decrease as we go through April and head into the summer months.

We are starting to get a little better picture of what the year holds for the Defiance area market as this first quarter has come to an end. The year-to-date statistics show that there have been 53 sales so far this year at an average sale price of $103,568 while being on the market for an average of 114 days. Compared to the first quarter last year, it's a mixed message. There were 66 sales in the first quarter last year, 13 more than this year's, however, the average days on the market was higher at 131 while the average sale price was virtually unchanged at $103,878. What this information points to is the current inventory of houses should start moving a little quicker. This, together with the consistently low mortgage rates, should begin to thin the current inventory levels while pressuring the prices of home to rise. This is particularly good for home sellers as it has the potential to produce better prices for their homes. As for buyers, this means that if you have been considering a home, now might be the best time to find one.

The Defiance area real estate market continues to hold lots of promise as it shows strength and resilience while other national area markets are not. If you are considering buying or selling a home in the Defiance market continue to do your homework, watch for next week's article, ask lots of questions and your potential for success will be great.

Scott M. Williams is a licensed Realtor® at Butler Mohr GMAC Real Estate in Defiance, Ohio. He can be contacted at: Scott@butlermohr.com or 419-438-1165

http://www.defianceareahomes.com/

(Statistics derived from MLS areas Defiance, Defiance Township, Ayersville Area and NE Defiance County)

See What's Happening with Defiance Area Real Estate

Maybe you've heard the doom and gloom the national media has been spouting lately about the real estate market and how poorly it is doing. It's true that the market has taken some hits lately, but our local market has not shouldered the burden near as much as other national markets have. To make a point, I decided to take a look back at the past two years of sales in the Defiance market and see what kind of changes we have had.

According to the local multiple listing service, in 2006 there were 365 properties sold in the Defiance market or an average of one per day. Those properties sold for an average price of $119,329 and spent an average of 118 days on the market.

In 2007 the market dipped slightly as 329 properties were sold, or an average of 27.42 per month, for an average price of $113,412 and spent an average of 119 days on the market. So far the first two months of 2008 there have been 36 properties sold for an average price of $108,189 with an average days on the market of 118. See the chart below to see the changes.

It's interesting to note that we have had a slight dip in the real estate activity since 2006, but the margin of change has been minimal in our area. It has not been near the same type of dip that many parts of our country are facing. What this means for the people in our area, is that with the still low interest rates and the adjusting average home prices, that there are some great deals available for someone wanting to purchase a home in our area. It also means that home sellers who are willing to look at price their home appropriately to it's value are still getting their homes sold in a reasonable amount of time.

So, if you have been thinking of buying or selling a home this spring in the Defiance area but, have been concerned about all the negative reports coming across the news lately, be rest assured that homes in our area are still being bought and sold everyday.

(Statistics derived from MLS areas Defiance, Defiance Township, Ayersville Area and NE Defiance County)

Scott Williams is a Licensed Realtor® with Butler Mohr GMAC Real Estate and can be contacted at Scott@butlermohr.com or through his website: http://www.defianceareahomes.com/

If you've been in Real Estate for some time, maybe this is not so tough for you, but I placed my personal residence up for sale yesterday. I've been involved in real estate now for about 8 years only 1 as an agent.

I've sold numerous homes as an invester over the years and many over the past year as an agent, but I've found it extremly difficult to determine the value of my personal home.

I'm rediscovering what it's like to be emotionally attached to a home like our sellers are. It's often easy to forget the way that a seller feels when they are trying to sell their home and I'm being reminded of it now.

Many of the struggles that we face as real estate agents when we are dealing with seller's are the direct result of these emotions. We personally moved into this house when my son was only about 1 year old and it's the only home that he has known for the past 7 years.

I find this reminder extremely valuable as I will attempt to do better in relating to my sellers and their needs. Maybe, when we begin in this industry it should be a requirement to sell your current home and move. That would definitely keep it fresh.

Scott

• Did you know that there are 201 single family properties currently listed on my MLS in Defiance that are for sale?

• Did you know that of the 201 single family properties for sale that 16 are priced under $50,000?

• Do you know what kind of great deals that are now available for investing in for area real estate investors?

There are just too many for me to buy. I need some people wanting to find some bargains to contact me!

Click Here to see the area listings.